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Grand Rapids Business Journal
Shareholders and regulators approved United Federal Credit Union’s previously announced acquisition of Edgewater Bank.
The Business Journal reported in October that St. Joseph-based United Federal Credit Union (United) signed an agreement to acquire the assets and liabilities of Edgewater Bank (Edgewater), also based in St. Joseph, pending customary approvals by shareholders of both institutions and federal regulators, which were obtained in April.
Under the transaction, Edgewater locations in downtown St. Joseph, Royalton Township, Coloma and Bridgman were converted to United branches beginning Monday. Two commercial loan offices one in Greenville and one in Fremont also became United locations on Monday. Due to its proximity to United’s Buchanan branch, Edgewater’s Buchanan branch and its employees will be consolidated into the United branch. All Edgewater customers will be allowed to become members of United.